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in newtown, connecticut. first graders from sandy hook elementary gathered to bury two more of their classmates here. on the other side of this, students from other schools here back to school today for the first time since the tragedy. very rough as one high schooler told us, there will be no joy in school for quite some time. we talked to parents dropping off their kids. there were tears and very apprehensive. but they knew this was something they needed to do. one parent said, look, i feel okay about my kid, i know that the teachers here are going to do the best they can because the teachers who did at sandy hook elementary, of course referring to the women there to tried to defend their students. one of those victoria soto will be laid to rest tomorrow. but again, people here starting to talk about healing. starting to talk about normalcy of some sort. but really, what can be normal when you continue to talk about burying six and seven-year-old kids. there is nothing that fits the norm when you discuss that. >> i hear you jay, when you have the baby angels and the teache
'll have more coming up. devastation of superstorm sandy, but wait until you hear about all the pork loaded into this $60 billion sandy relief bill. hardly any of it gets to sandy and the actual survivors. we'll get to all that. "the kudlow report" begins right now. >>> first up, 14 days and the clock is still running for a deal to prevent the nation's economy from falling off the tax and fiscal cliff. president obama, speaker boehner, they huddled at the white house today once again, but are we really any closer to a compromise? we go back to cnbc's eamon javers who joins us from washington with all the details. good evening. >> reporter: good evening, larry. you're right, they did meet today. it was a surprise meeting not announced as the previous meetings between the two men have been in past weeks. so we know that the meeting lasted about 45 minutes and that treasury secretary tim geithner also attended. what we don't know is whether the two men came to any deal or not or advanced the discussions in any way today. what we do know is that up here on capitol hill, senator harry reid, the
. and the super hurricane sandy had really very little impact. now, i just want to show you, you can see the consumer is not dead. in fact, let me try this one. you're up here at about 4.5%. this is six months smooth basis. look at this move from june to november, consumers are far from dead. it's not fabulous. i'd like to see five or six growth. but it ain't bad. now, the second one we're going to look at is jobless claims. weekly unemployment claims fell almost 30,000 for the week. nowing again, hurricane sandy did play a bit of a role, but only temporary. you can see in mid november -- there's hurricane sandy at about 450,000. you can also see that it is now falling all the way down to about 340,000. these are weekly jobless claims that are pretty good indicators of what the next employment report is going to look like. so i'm just saying retail sales, jobless claims, pretty darn good, the economy is not collapsing. now, we're going to wait for a business investment, which comes in in a couple weeks. that's been falling badly. and then we're going to see about housing, which has been
and weeks after that tragedy at sandy hook, elementary school. >> many thanks, appreciate it. >>> here now to talk to us dan greenhaus, you are, if i understand it, a fiscal cliff stock bear. >> yes. give or take, yes. >> and why? >> well, i think it's pretty clear you're talking about -- well, our best case scenario has been we're going off the cliff. we said that the day after the election, we standby it today. if you do that, you're talking about the largest tax increase in our country's history, a considerable amount of spending cuts, and in the short-term, probably hit the stock prices on the order of 10%. >> if i give you a cliff deal. okay. i'm going to give you a cliff deal for middle class extensions, 250,000, you're right the top rates will go up. but if you get that deal in january, that does save us from the recession scenario, the really deep gloom scenario. >> this is the big debate. our view has been if you get a deal fairly quickly in the new year, it's hardly the end of the world. the question really or the debate really accelerates if you start getting closer to january 1
has just passed a $60 billion aid bill for communities slammed by super storm sandy. that vote was 61 for, 33 against. sandy road ashore devastating several areas and the senate rejected a republican amendment to cut the immediate cost to just 23 million clearing the way for final action on the $60 billion bill. the bill now goes to the house where its passage is uncertain because of the non-sandy-related spending items that are in the bill. typical sausage making for washington. >>> let's get to our panel. here now is blake zeff, former obama campaign aide and washington editor. robert, have you heard anything in the last couple of hours that suggests to you that somehow by monday mitch mcconnell and harry reid will sing kumbaya, pass something in the senate that also passes the house? >> i'm not so sure they'll be sing kumbaya, but the real story today is that there's movement on capitol hill. reid and mcconnell come out of that white house meeting and they're ready to haggle over some differences. what i expect to come to the floor is what president obama's talking about a 250 thre
. could have something to do with superstorm sandy. weak in yesterday's third quarter gdp report. profits, and these are the broadest gdp profits, covering about 5 million large and small companies really came in pretty good in the third quarter. up 9% from a year ago. so even though business looks weak, good profits could be the backbone of the stock market despite the hysteria of the fiscal cliff. let's talk to don -- for all th hysteria, profits are rising, the economy has got pluses and minuses. i'm not sure people need to pay all that attention to the fiscal cliff. >> well, if you look at what the global stock markets are doing, they suggest that our market would be doing significantly better were it not for the fiscal cliff. now profits have been good. i think people are getting used to the idea they trust corporate ceos more than they trust those that print government bonds that aren't really worth as much by the time they mature. they're also seeing a yield compression around the world. if you look at corporate beyond yields, they're about half of where they were just a year ago.
Search Results 0 to 5 of about 6